Executives point out while they are fixing the online lender's very public problems, loan originations are still in the billions and it has expanded into wealth management.
As customers become more tech-savvy, the bank said it no longer needs to prod them to use its digital products by offering discounts. Account holders can avoid fees by enrolling in direct deposit.
Providing the default card in digital subscription services is one way banks can win back bill-pay business, save customers time and help them manage their data.
Capital One became the latest bank to feel customers' online wrath last week after reports that some customers were being charged twice for debit card activity. But they were hardly alone.
Customers saw transactions recorded multiple times and experienced drained accounts and long hold times. It’s a warning to all financial institutions as they head further into mobile-only banking — glitches are more visible and painful and need to be addressed faster than ever.
Rep. Emanuel Cleaver, D-Mo., has emerged as one of the most outspoken members of Congress when it comes to fintech, both embracing its potential and calling for regulatory guardrails.
The Trump administration’s curious decision to delay rules concerning disabled consumers’ access to websites would appear to give companies a pass on making their sites compliant with the Americans with Disabilities Act. Banking attorneys don’t see it that way.
